The prices in real estate in Manila, in the Metro Manila region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Manila has had a strong decrease during the last 6 months. In March, the average price per m² was ₱ 120,274. In the following month the price per m² decreased to ₱ 102,602. The price for the following two months in (May, June) had a considerable decrease of 83 with regard to the prior two months. The price per m² has had a considerable deflation of 83 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₱ 102,160 to ₱ 84,434 during July, and August.
Based upon to the price in Manila (cities), this has gone downing the last 6 months. The average price for March is ₱ 6,625,210. During April the price had a considerable reduction till ₱ 5,136,139. In the following two months the average price has remained the same with regard to the previous two months from ₱ 5,880,674.5 to ₱ 5,870,094.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of ₱ 5,875,384.5 and ₱ 5,923,315.5 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 7,868,517 they are 65 % more affordable than the average price for Manila. The properties with the highest average price have 4 bedrooms, Their price is 270 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 12,144,764.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 72,866 / m², with an average ₱ 89,237 / m² price in Manila. The properties with the highest average prices have 3 bedrooms. They are 4 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 93,098 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 7,868,517 it is 56 % cheaper than the average price in Manila. "House And Lot" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "Townhouse". At a price of ₱ 29,208,538 it is 709 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 44,424 / m² followed by "Apartment" priced at ₱ 76,168 / m². "Condominium" is the most costly type of property with a ₱ 130,843 / m² cost followed by "Townhouse" with an average price of ₱ 105,313 / m².